Bitcoin analysts are optimistic about the cryptocurrency‘s price trajectory leading up to the upcoming halving event in April 2024. Projections indicate a potential surge in value post-halving, with estimates ranging from an average peak price of $87,800 to as high as $100,000 or more.
The anticipated price increase is fueled by the expected reduction in Bitcoin’s inflation rate following the halving, historically a catalyst for bullish momentum. However, analysts also acknowledge the possibility of a correction phase, with potential support levels at $52,000 and $45,000.
Looking beyond 2024, some analysts forecast even more significant growth, with projections suggesting a climb to $125,000 by 2025 and $360,000 by 2030. Factors such as growing institutional interest and the potential approval of Spot Bitcoin ETFs are expected to contribute to the cryptocurrency’s value appreciation.
Source: BITCOINST
